Question

$600 is deposited at the beginning of each month in an account that earns 4.8% interest, compounded monthly. How long will it take until the value of the account is $150,000?

Answer #1

Suppose a savings account earns 3% interest compounded monthly.
After the first month $100.00 is deposited into the account. Each
subsequent month the deposit increases by 1%. Thus, in month 2,
$101.00 is deposited, and in month 3, $102.01 is deposited. Find
the account balance after 2 years if initially there is $400 in the
account.

1. If $1,000 is deposited at the end of each month and earns 9%
compounded monthly, will it take more than 42 months or less than
42 months for the total value of the deposits to reach a value of
$50,000?
2. What is the approximate annual rate of interest will result
in an investment doubling in value in eight years?
3. A $15,000 loan requires payments at the end of each month for
five years. If the interest rate...

1/ You deposit $3000 at the beginning of each year into an
account earning 5% interest compounded annually. How much will you
have in the account in 20 years?
2/Suppose you want to have $400,000 for retirement. Your account
earns 7% interest compounded monthly. If you deposit $200 at the
end of each month, how long will it take you to reach your goal?
Round to the nearest year.

If $8000 is deposited at the end of each half year in an account
that earns 6.7% compounded semiannually, how long will it be before
the account contains $130,000? (Round your answer to one decimal
place.)
Find the future value of an annuity due of $900 each quarter for
8 1/2 years at 11%, compounded quarterly
.

If $4000 is deposited at the end of each half year in an account
that earns 6.1% compounded semiannually, how long will it be before
the account contains $100,000? (Round your answer to one decimal
place.)

If $3000 is deposited at the end of each half year in an account
that earns 6.4% compounded semiannually, how long will it be before
the account contains $120,000? (Round your answer to one decimal
place.)
yr -

An individual deposited $3000 at the beginning of each year into
an IRA account which earns 7% compounded quarterly. If the payments
began on January 1, 2020 and will end on January 1, 2045, determine
the balance on January 1, 2046. ($227,118.93) Cannot use Excel.

$3,500 is deposited at the end of each quarter in an account
that earns 6% compounded quarterly until $100,000 has accumulated
in the account.
This scenario describes the ---Select--- Future Value
of an Annuity Due Future Value of an Ordinary Annuity . From the
formula in the textbook, all values are known, except
for ? R S i n .
After how many quarters will the account contain $100,000?
(Round your answer UP to the nearest quarter.)

For 8 years, $97 is deposited each week into an account that
earns 2.1% interest, compounded weekly (52 times a year). The
account currently has $300 in it. How much will be in the account
after 8 years? Round your answer to two decimal places if rounding
is necessary. There is a $ sign next to the answer box, so do not
type a $ sign in your answer

If $3500 is deposited at the end of each quarter in an account
that earns 4% compounded quarterly, after how many quarters will
the account contain $80,000? (Round your answer UP to the nearest
quarter.)

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